Ori Yehudai, president of Frutarom, said: “The acquisition of Mylner represents an important base which will strengthen and boost Frutarom’s growth in the flavour solutions market in Latin America, and will further enhance its position as a leading global flavours manufacturer and supplier.”
Frutarom Industries has signed an agreement for the acquisition of the Brazilian Mylner Indústria E Comércio, in return for approximately $US15.7m. Mylner, founded in 1974 by three partners with many years of experience and a well established reputation, develops, manufactures and markets flavour solutions, focusing mainly on sweet flavours for beverages and baked goods, and natural flavour products.
Mylner has a modern development, production and marketing site in the area of Sao Paulo, Brazil, including land for future expansion, and employs some 70 workers. Mylner’s wide customer base includes food manufacturers mainly in Brazil, and in other developing countries in Latin America.
Frutarom considers this acquisition of Mylner to be an important strategic step and a significant first entry into the taste solutions market in the important and large Brazilian market and in Latin American markets, which strengthens its presence and market share in these high growth potential markets.
Source: Frutarom
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